Retirement plan

MICHAEL R. SCHWARTZ, M.D., INC. 401(K) PROFIT SHARING PLAN

Name: MICHAEL R. SCHWARTZ, M.D., INC. - MICHAEL R. SCHWARTZ, M.D., INC. 401(K) PROFIT SHARING PLAN (2024) Form 5500
Creator: MICHAEL R. SCHWARTZ, M.D., INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, MICHAEL R. SCHWARTZ, M.D., INC. 401(K) PROFIT SHARING PLAN, MICHAEL R. SCHWARTZ, M.D., INC.

MICHAEL R. SCHWARTZ, M.D., INC.EIN 77-0570099Plan #001PY 2024

4373 PARK TERRACE DRIVE, SUITE 101 - WESTLAKE VILLAGE, CA 91361805-449-7204drschwartz.comLinkedIn1-10 employeesmedical practice

Other plans on this EIN

1 filing

#002Retirement-$4.2M assets

Prospect flagsHigh feesLow participation

How to read this page

Total assets (EOY)

$2.8M

+19.1% from 2023

Total participants

+70.6% from 2023

Average account balance

$176,877

+26.5% from 2023

Annual return

10.86%

-0.54 pp from 2023

Benchmarks

See 21,691 peers

Peer group

Industry62 - Health Care and Social Assistance

Plan typeDefined contribution

Participants25-99

Cohort21,691 peers

Snapshot2024

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$2.83M

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$177K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

61.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$196K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$8K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+10.86%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$1737

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J3D3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

2 tripped

OpportunityLow participation
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
OpportunityHigh fees
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)

Expense breakdown

Schedule H Part II

Admin total

$28K

$1069 / participant

Other / not subdivided$28K100.0%

% of EOY assets

0.982%

all-in expense ratio

Categories reported

0 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$176,877

$81,358+117.4%

$155,556+13.7%

$80,959+118.5%

Participation rate

50.0%

66.3%-16.3pp

78.2%-28.2pp

67.7%-17.7pp

Annual return

10.86%

33.39%-22.5pp

64.84%-54.0pp

35.67%-24.8pp

Employer contribution / active EE

$6,040

$3,106+94.4%

$4,675+29.2%

$2,757+119.1%

Participant deferral / active EE

$1,505

$3,455-56.4%

$5,631-73.3%

$4,300-65.0%

Admin fee / account holder

$1,737

$7,994-78.3%

$15,885-89.1%

$6,925-74.9%

MICHAEL R. SCHWARTZ, M.D., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

MICHAEL R. SCHWARTZ, M.D., INC. 401(K) PROFIT SHARING PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion